An Insurable Interest

question 21

Multiple Choice

An insurable interest

• A)generally must exist both at the time the contract of insurance is made and when the event occurs that results in a loss.
• B)may be shown by a creditor.
• C)is anything that benefits the insured by its continued existence and that,if changed,would represent a loss.
• D)may arise from a security interest in property.
• E)All of these.

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Definitions:

Firearms

Portable weapons that launch one or more projectiles driven by rapidly expanding high-pressure gas produced chemically by propellant combustion.

Suicide Rate

A statistical measure representing the number of suicide deaths in a specified population or area over a given timeframe.

Married Persons

Individuals who are legally joined in matrimony, a state that entails certain legal rights, responsibilities, and social recognition.

Divorced Persons

Individuals who have legally terminated their marriage.